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Market Recap Week Ended June 1, 2012

A tepid jobs report for the month of May along with European fears, including news/rumours  of Spanish banking withdrawals left the S&P 500 Index at 1278, down more than 3% for the week.

More Ominously, the U.S. Ten Year Treasury Note  closed at a record low of 1.47%.  Even more astounding yet, the The German Two Year Bund Yields fell to Zero.

Next Week’s Potential Market Moving Events:

Wednesday:

Federal Reserve Biege Book Report

European Central Bank (ECB) Meeting

Thursday:

Ben Benranke testifies before the Joint Economic Comiittee

Spanish Bound Auction

WEEKLY SECTOR ETF PEFROMANCE

ETF Sector Perfrmance
Week Ended June 1, 2012
Q1 Weekly 2QDT YTD
S&P 500 Index 12.0% -3.0% -9.3% 1.6%
XLF Financials 21.9% -3.8% -14.6% 4.1%
XLU Utilities -2.6% -0.2% 1.9% -0.8%
XLB Materials 10.8% -2.6% -10.5% -8.0%
XLP Consumer Staples 5.4% -2.2% -2.7% 2.6%
XLY Consumer Discretionary 15.9% -3.6% -7.4% 7.3%
XLV Health Care 9.0% -2.5% -5.6% 2.9%
XLI Industrial 11.4% 3.5% 9.9% 0.4%
IYW Technology 21.9% -3.6% -13.8% 5.1%
IYZ Telecom 6.2% -1.7% -6.6% -0.8%
AGG Aggregate Bond 0.1% 0.8% 2.2% 2.4%
TIP TIPs Bond 0.8% 1.2% 4.2% 5.1%
LQD Inv. Grade Corp Bond 2.3% 1.6% 2.5% 4.9%
GLD Gold 12.0% -3.0% -9.3% 1.6%

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DISCLAIMER: Nothing in this article should  be construed as a personal recommendation or investment advice.  Nor should anything in this article be construed as an offer, or a solicitation of an offer, to sell or buy any particular investment security.   Investors should conduct their own due diligence and seek the advice of a financial and/or investment  professional before making any investment decisions.


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